A new initiative to help start-ups find solutions to the challenges they are facing has been launched by Payfort, a regional online payment provider.
Launched during a Ramadan iftar in Dubai, which was attended by Payfort merchants and acquiring bank partners, the PayForward Initiative links start-ups with leading e-commerce experts and mentors through an e-knowledge sharing and networking space.
With research showing 70 to 80 percent of shoppers still choose cash-on- delivery as their preferred payment method, payment has been one of the most salient challenges faced by e-commerce start-ups in the region.
The initiative aims to equip businesses to overcome this challenge and gain traction of the regional e-commerce market that is expected to grow to $15 billion by 2015.
Omar Soudodi, managing director at Payfort, said: “The Arab world’s start-up ecosystem is really on the rise, a phenomenon that carries with it many benefits for the region’s wider economy, from employment creation to increased trade and commerce to economic and infrastructural development.”
Industry experts and start-up owners interested in engaging in an effective business mentoring as mentors and mentees are encouraged to register at Payfort’s website, www.payfort.com.